Johnson Investment Counsel Inc. Makes New $1.94 Million Investment in Fabrinet (NYSE:FN)

Johnson Investment Counsel Inc. bought a new position in Fabrinet (NYSE:FN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,815 shares of the technology company’s stock, valued at approximately $1,938,000.

A number of other large investors have also added to or reduced their stakes in the stock. Cynosure Group LLC grew its position in Fabrinet by 3.4% in the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after purchasing an additional 51 shares during the period. Assetmark Inc. boosted its stake in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after acquiring an additional 52 shares during the last quarter. Huntington National Bank boosted its stake in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after acquiring an additional 57 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after acquiring an additional 60 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in shares of Fabrinet by 2.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of NYSE FN opened at $197.47 on Wednesday. The company has a market cap of $7.16 billion, a P/E ratio of 22.09 and a beta of 0.89. The firm’s fifty day moving average is $219.91 and its two-hundred day moving average is $231.46. Fabrinet has a 52-week low of $159.69 and a 52-week high of $281.79.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. As a group, analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research note on Tuesday, February 4th. Fox Advisors assumed coverage on shares of Fabrinet in a research note on Tuesday, February 18th. They set an “overweight” rating and a $270.00 target price on the stock. Barclays lowered their target price on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities lifted their target price on shares of Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Fabrinet has a consensus rating of “Hold” and an average price target of $246.63.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.